The Climate Group Launches New Business Initiative To Boost Energy Productivity

The Climate Group has launched a new initiative, the EP100, showcasing the world’s most influential business commtted to doubling their energy productivity.

EP100 was originally announced back in April, as it welcomed its first partner, Mahindra & Mahindra Ltd., the world’s largest manufacturer of tractors, which pledged to double its energy productivity by 2030 (on a baseline of 2008-09). This week, at the Energy Efficiency Global Forum (EE Global), The Climate Group welcomed two new members to the EP100, Johnson Controls Inc., a global technology and industrial leader, and Covestro AG, one of the world’s leading polymer companies. Both companies have made significant pledges, Johnson to double their energy productivity by 2030 (on a baseline year of 2009) and Covestro also plans to double its energy productivity by 2030 (on a baseline of 2005).

“Energy productivity is a critical component of our new energy future,” said Rachel Kyte, EP100 Executive Committee member, CEO of Sustainable Energy for All (SE4ALL) and Special Representative of the UN Secretary-General for Sustainable Energy for All.

“Less than six months after the Paris Agreement, leading businesses are continuing to take the ambitious climate action the economy needs. By publicly committing to double their energy productivity, these global companies are seizing the clear potential to cut energy costs, enhance profitability and avoid fluctuating energy shocks. EP100 is a step forward for bold business action – while setting us on course to achieve the world’s shared goals of sustainable, efficient energy for all.”

EP100’s understanding of the concept of energy productivity is to align “energy efficiency more directly with business growth and development objectives.” Specifically, The Climate Group believes that if more businesses were to increase their energy productivity, global fossil fuel bills could drop by an estimated €2 trillion ($2.28 trillion).